Beware of any bounce in NVDA.

NVDA has been moving up on low volume into the right shoulder of a head and shoulders pattern.

This has always led to a steep sell off on high volume .Ai spending is peaking, and NVDA is going to crash . NVDA move up is a dead cat bounce .

i have been saying this since 143.86

NVDA has a market cap equivalent of 24 times annual sales priced into the stock.

Jensen is unloading shares. Open Ai just decided to buy chips from AMD instead of Nvidia.

40% of NVDA revenue comes from 5 customers and lastly I would suggest you read Microsoft's comments on Ai spend. NVDA will struggle to move higher and it's safer to get out before the fall on high volume

https://preview.redd.it/0gdistjkrbyd1.jpg?width=526&format=pjpg&auto=webp&s=7b8780c306ce1dd7c59e506122d8c2d2a1f2687e

Historically, the Sahm Recession Indicator has reliably signaled a recession whenever it hits 0.5 or higher. Yet, this time, it hasn’t. This discrepancy raises questions: is the indicator itself flawed in this instance, or are we looking at questionable job market data?

Make your bets regards!

https://fred.stlouisfed.org/series/SAHMREALTIME

You can see the exact moment where I started options trading - Nvidia crash Earnings crash Meta and apple calls earnings crash I no longer have anything left to do options Back to Wendy’s 🐒🥲 (Gonna stop trading altogether).

This month is going to be crazy. This election will not go smoothly. Aside from the fact that mail in ballots are counted until around the 25th of nov, it's all but guaranteed that one of the two candidates will do everything they can (legally and otherwise) to "win" the election.

This isn't meant to be a political post, but aside from spy puts , what is a way to take advantage of the markets presumable reaction to the uncertainty that will come this month?

At this point, I'm planning to just go cash aside from the covered calls/stocks I have tied up already

Quick and simple. EA Games beat estimates just last week and are almost at all time high. Their top new game for which many people including me were waiting for: Dragon Age Veilguard just came out yesterady, and despite the positive reviews is a woke flop. The positive reviews are due to EA providing review copies only to reviewers which are known to be overly positive (i.e. IGN and the likes) but did not provide copies to others. Now that the game is out it has currently 55k players online on Steam (ranking #29 on Steam). That's embarassing for a first day for an AAA game.

https://preview.redd.it/axvwceayuayd1.png?width=1448&format=png&auto=webp&s=f99bcdf3ea48b27968d60c8bed523393018b1115

TL;DR: Short EA, as their new flagship game Dragon Age Veilguard is a flop.

My position: 200 shares short at 150 USD. I will buy some puts as well. You can hold either till next results or just when the bad reviews come out (probably this week) and analysts realize that the game isn't going to continue selling well.

Apple’s latest move in satellite services could be a game-changer, following an expanded partnership with Globalstar that sent Globalstar's stock surging by 64%. This update builds on their existing arrangement, now aimed at expanding the scope and scale of satellite services for Apple users. This strategic collaboration taps into Globalstar's satellite capabilities, potentially positioning Apple as a stronger player in emergency communication services and beyond. As demand grows for reliable, on-the-go connectivity, especially in remote areas, Apple’s foray into satellite tech signals its ongoing push to integrate groundbreaking communication tech directly into its products.

https://spacenews.com/apple-loans-globalstar-252-million-for-satellite-enabled-iphones/

An oil and gas offshore drilling company. Transocean just reported Q3 earnings and broke even which was better than expected. Up 3.71% this week. I think this stock has potential for a future play around q2 and q3 2026 as well as sooner because of the possible merger. They have been awarded multiple contracts for work with various companies and work to commence in 2026.

The big catalyst is that they are in talks with Seadrill, another offshore drilling company about a possible merger. This merger would make them the industries largest offshore drilling company.

https://www.tipranks.com/news/transoceans-rig-potential-merger-with-seadrill-could-be-a-game-changer

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S&P had a phenomenol run year to date. It has journeyed almost 1000 points from 4743 on 2nd January, 2024 to 5705 on 31st October, 2024. It made two valiant [but failed] lunges to 6000 on 14th October (5860) and then on 18th October (5865).

Now the question is whether S&P can make the last mile and reach the summit of 6000 by the end this year?

What will take for S&P to continue its ascent:

1. Election results: there is palpable excitement among investors on US election results in November. Punters are betting heavily on a Trump win while polls are showing very narrow lead for Harris. Once the dust of election result is settled then investors will have a better outlook of what to expect in 2025 and beyond. Election results may by itself be sufficient to cause of surge or a crash (buy the rumour & sell the news).

2. Another US Fed rate cut: PCE data on 31st October indicated that the menace of inflation has been tamed and leaves room for 1 or 2 rate cuts for 2024. 1 rate cut is almost certain and priced in, but the market may react if there a deviation from this widely held expecations.

3. Blockbuster earnings from Nvidia: S&P has often rode the coat tails of Nvidia in 2024 and the last earnings from the mega company may not be very different. While the sales revenue and EPS is certain to beat analysts expectations, it is the forward guidance that holds the key now.

[Disclaimer: I hold long Calls for S&P VOO ETF at strike of 545$ and Jan 17th expiry].

Happy Trading.